AN,
FYI, the Compass Point property is a short sale. Owner paid 335K in 2002 and MEWed their way up to a 585K loan balance. The 2nd lien is toast and the 1st is $493K. Unlikely they sold much below 450K as that is the lowest sale price in the last 6 months and it is for the much smaller unit. Also 5.5% or even 6% is a very unrealistic assumption right now. think more like 6.5%.
